PPP Loan Data — Premiere Communications & Consulting Inc, Raleigh, NC
Premiere Communications & Consulting Inc
Entity: Subchapter S Corporation
Location: Raleigh, NCTweet This • Search All PPP Data
Premiere Communications & Consulting Inc is a subchapter s corporation located at 516 S New Hope Rd in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $1,762,637.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Premiere Communications & Consulting Inc in Raleigh, NC received a Paycheck Protection Loan of $1.76M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Premiere Communications & Consulting Inc's 2019 payroll expenses are estimated to be at least $8.46M.
Based on their reported 160 jobs retained, this equals an estimated average yearly compensation of $52,879 per employee1
Reported PPP Proceed Usage:
On the PPP application, Premiere Communications & Consulting Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,762,637
Business Information - Premiere Communications & Consulting Inc in Raleigh, NC
516 S New Hope Rd
Raleigh, NC 27610
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Raleigh
In the Raleigh area, 7 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 160) and received an average PPP loan of $264,284 (compared to this company's $1.76M).
Similar Nearby Businesses Who Received PPP Funding:
Hicks & Tsasa Electric
Rock Quarry Productions, Inc
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 11 employees, 93% lower than Premiere Communications & Consulting Inc's reported 160 employees, and received an average PPP loan of $142,494, 92% lower than this company's loan of $1.76M.
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Footnotes & Information
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